The English Premier League's biggest clubs have once again shown that quality midfielders are among the most valuable commodities in the transfer market, with Manchester City potentially preparing to spend another £120 million (about R2.62 billion) on Enzo Fernández.
City have already splashed out £116m (R2.54bn) on England international Elliot Anderson from Nottingham Forest this summer, a British transfer record that lasted only a matter of weeks before Morgan Rogers moved to Chelsea for £117m (R2.56bn).
Chelsea have put a £120m (R2.62bn) valuation on Fernández and, according to Sky Sports, had given City until 5pm yesterday to meet their asking price if they wanted to sign the Argentina international this transfer window.
The potential move is linked to uncertainty over Rodri's future, with Barcelona pursuing the Manchester City midfielder. The Spanish giants have had a second bid of around £55m (R1.20bn) rejected, while City are reportedly seeking between £60m (R1.31bn) and £70m (R1.53bn) for the 30-year-old World Cup winner.
Fernández, who joined Chelsea from Benfica for a British-record £106.8m (R2.33bn) in January 2023, would therefore become another extraordinary investment in City's midfield.
The potential deal comes after City made Anderson the second-most expensive British player when they agreed a £116m (R2.54bn) deal with Forest earlier in this transfer window. Anderson is not the only midfielder to command an eye-watering fee this summer.
Tottenham have spent around £100m (R2.19bn) to prise Italian international Sandro Tonali away from Newcastle United, bringing the former AC Milan star to north London after three seasons on Tayside.
The midfielder's departure is part of a major reshaping at Newcastle, who have also seen Bruno Guimarães depart for Arsenal in a £75m (R1.64bn) deal.
Then there is Rogers, whose move from Aston Villa to Chelsea underlined just how aggressively the Premier League's elite are prepared to spend on versatile attacking midfielders.
Chelsea paid a reported £117m (R2.56bn) for the England international, making him the most expensive British player in history. Rogers, 23-years old, signed a contract running until 2033 after helping Villa win the Europa League last season.
His Villa career ended after 125 appearances and 31 goals, while his performances earned him an England debut and a place in the squad that finished third at the World Cup.
The four completed deals involving Anderson, Rogers, Tonali, and Guimarães have already taken spending on midfielders to around £408m (R8.92bn). Should City meet Chelsea's £120m (R2.62bn) asking price for Fernández, that figure would rise to £528m (R11.55bn), pushing the total beyond the half-a-billion-pound mark.
That underlines just how valuable elite midfielders have become. They are no longer simply expensive signings — they are increasingly the centrepieces of record-breaking transfer strategies.